On May 30, 2017 we posted Offshore Tax Suit To Switch From OVDP To Streamline Doesn’t Block Collection where we discussed that three taxpayers seeking to switch over to the IRS’ new “streamlined” compliance program for unreported offshore income argued to a D.C. Circuit panel that their lawsuit is not foreclosed by the Anti-Injunction Act's bar on…Read more
Greek Co. Not Liable For $4M Gain From Sale of US Partnership Interest
The Tax Court has concluded that a foreign corporation's proceeds from the redemption of a U.S. limited liability company that was treated as a partnership for U.S. income tax purposes was not U.S.-source income and was not effectively connected with a U.S. trade or business. Grecian Magnesite Mining, Industrial & Shipping Co. SA had already…Read more
Private Debt Collectors Threatening Taxpayers To Pay Their Debts?
On Tuesday, April 4, 2017 ,we posted Private Debt Collection of Some Overdue Federal Taxes Starts in April! where we discussed that the IRS announced that it plans to begin private collection of certain overdue federal tax debts next spring and has selected four contractors to implement the new program. According to the IRS the Internal Revenue Service…Read more
Vote For TaxAid's Blog “The Tax Times” As One of Your Favorite Blogs!
Let the ABA know if you enjoy reading TaxAid.com's Blog "The Tax Times." Go to Web 100 to Submit your nomination. Below we have provided some of the required answers to facilitate this process for you: Format - check Blog Title - TaxAid.com Blog "The Tax Times" Homepage - http://taxaid.com/blog/ Example - Pick your own…Read more